Elements of Mathematics for Economics and Finance

Abstract

Includes index. Based on over 15 years' experience in the design and delivery of successful first-year courses, this book equips undergraduates with the mathematical skills required for degree courses in economics, finance, management and business studies. The book starts with a summary of basic skills and takes its readers as far as constrained optimisation helping them to become confident and competent in the use of mathematical tools and techniques that can be applied to a range of problems in economics and finance. Designed as both a course text and a handbook, the book assumes little prior mathematical knowledge beyond elementary algebra and is therefore suitable for students returning to mathematics after a long break. The fundamental ideas are described in the simplest mathematical terms, highlighting threads of common mathematical theory in the various topics. Features include: a systematic approach: ideas are touched upon, introduced gradually and then consolidated through the use of illustrative examples; several entry points to accommodate differing mathematical backgrounds; numerous worked examples and exercises to illustrate the theory and applications; full solutions to exercises, available to lecturers via the web. Vass Mavron is Professor of Mathematics in the Institute of Mathematical and Physical Sciences at the University of Wales Aberystwyth. Tim Phillips is Professor of Mathematics and Professorial Fellow in the School of Mathematics at Cardiff University. Essential Skills -- Linear Equations -- Quadratic Equations -- Functions of a Single Variable -- The Exponential and Logarithmic Functions -- Differentiation -- Maxima and Minima -- Partial Differentiation -- Optimization -- Matrices and Determinants -- Integration -- Linear Difference Equations -- Differential Equations.